Earned Value Management Formulas

Quick Reference for Earned Value Management Formulas

If you are looking for a comprehensive list of all the Earned Value Management Formulas, then you are at the right place. If you are preparing for PMP® Exam, you will find all the Earned Value Formulas. This article would provide you with a step up in doing Earned Value Calculations.

I have written a series of articles on Earned Value Management (EVM) where I have explained the Concept in detail including all the Earned Value Formulas. This post is written with a completely different perspective from my previous articles. It consolidates all my previous articles and gives an overview of all the Earned Value Management Formulas. In this post, I have covered some new Earned Value Formulas as well.

You can bookmark this article as a ready reference for all the Earned Value Management Formulas. It will help you in doing Earned Value Calculations.

If you are looking for more than an overview of Earned Value Management Formulas, then you should read my previous articles. A detailed exposition of Earned Value Formulas will help you in doing Earned Value Calculations correctly.

What is EVM?

EVM is a Project Monitoring and Controlling (M&C) methodology. Just like many other M&C methodologies, EVM measures & reports project’s progress in terms of Schedule and Cost. And also, like many other M&C methodologies, EVM has 3 different types of values & measurements:

Project Plan

Project Status

Project Forecast

However, EVM is conceptually different from other M&C methodologies. In EVM Schedule & Cost measurements are combined together and they are reported as Monetary Values. The Monetary Values are reported either in monetary units (currency) or as an equivalent of monetary units like Effort. Let us take a close look at these values along with the Formulas behind them.

Planned Values

Budget At Completion (BAC)

Planned Value (PV)

Definition

It is the Estimatedor Planned Cost required to complete the Project. But sometimes it could also mean Estimatedor Planned Cost required to complete a Milestone(s).

It is the Monetary Value of the Work that was Estimated or Planned to be Completed by the Control Date.

Is this the complete list of Earned Value Formulas to do Earned Value Calculations?

Yes. This is a complete list for PMP® Exam study. You would be able to do all the possible Earned Value Calculations using these Formulas. Otherwise, EVM is a big topic and there are many more Earned Value Management Formulas that are not explained here.

PMP Exam Formulas

I have also compiled a PMP Formulas Cheat Sheet. It contains 45 formulas and 57 abbrviations. It will help you in your exam prep. You can freely download the PMP Formulas Sheet for your studies. It is the best and most comprehensive cheat sheet based on the PMBOK Guide 6th edition.

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